News Release Date: July 23, 2009
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers issued on 18 June 2009 the document titled “Core Principles for Effective Deposit Insurance Systems.”    The document was issued based on the report of the Financial Stability Forum* on Enhancing Market and Institutional Resilience (April 2008) which stressed the need for authorities to agree on an international set of principles for effective deposit insurance systems.       * Currently the Financial Stability Board
◯	The Core Principles consists of 18 principles which are categorized into 10 groups as follows:
	①	Setting objectives(Principles 1 to 2);
	②	Mandates and Powers (3 to 4);
	③	Governance(5);
	④	Relationships with other safety-net participants and cross-border issues(6 to 7);
	⑤	Membership and coverage(8 to10);
	⑥	Funding (11);
	⑦	Public awareness(12);
	⑧	Selected legal issues(13 to 14);
	⑨	Failure resolution (15 to 16); and
	⑩	Reimbursing depositors and recoveries(17 to 18).
Please see the attached for details: Press release of the International Association of Deposit Insurers and the Basel Committee on Banking Supervision; and Core Principles for Effective Deposit Insurance Systems.